We found a match
Your institution may have access to this item. Find your institution then sign in to continue.
- Title
THE UGLY FACE OF AUDITOR LIABILITY.
- Abstract
The article refers to a settlement paid by Price Waterhouse company--which was blamed for a bad investment decision that was based on an alleged misleading audit--and focuses on auditor liability. The $338 million award to a British bank was equal to 1,000 times the audit fee and three times the plaintiff's loss claim. The argument is that the settlement is excessive and that abusive lawsuits are a threat to the U.S. economy and auditing profession. Topics include misunderstanding the limits of auditing and the quality of independent audits. Financial Executives Institute (FEI) President P. Norman Roy, FEI Chairman Chris Christie, and International Paper Chief Financial Officer Robert Butler comment.
- Subjects
AUDITING malpractice; PRICE Waterhouse &; Co.; AUDITING procedures; FINANCIAL Executives Institute; CHRISTIE, Chris, 1962-; ROY, P. Norman; INTERNATIONAL Paper Co.; BUTLER, Robert; EMPLOYEES; ACTIONS &; defenses (Law)
- Publication
Financial Executive, 1992, Vol 8, Issue 5, p66
- ISSN
0895-4186
- Publication type
Article